SouthsideCentral has learned that Danville’s Industrial Development Authority will buy the properties at 701 & 705 Loyal Street and 706 & 720 Wilson St at a bankruptcy auction. Although this might sound like a regular real estate transaction, there’s a twist to this one.
Here’s the properties that will go in a bankruptcy auction at 12:30 PM on Wednesday…
Danville’s Industrial Development Authority has been buying commercial real estate properties in and around Danville’s River District area over the past years, but this is the first property in the district to be sold at a public auction. SouthsideCentral has learned that at least one private citizen also wants to buy this property. If everything goes as we believe it will tomorrow, this will be the first time that Danville’s Industrial Development Authority will publicly outbid a private citizen.
SouthsideCentral will be at the auction on Wednesday and will update you LIVE! on what happens via the website our social media streams. Check in with us often and get the latest information.
[…] BREAKING: Danville IDA To Buy Auction Property […]